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3558 Lila Street Riverside, CA 92504

3 Beds 1 Baths 1,071 sqft Built 1953

INVESTimate

$399,900

List Price

$1,680

$1,512 - $1,848

Rent Est.

$446,768  ( +11.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1953
  • Price/Sqft : $373.39
  • 6 Days on Market
  • MLS # : IG20171281
  • Updated Date : 08/21/2020 at 18:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,071 sqft
  • Baths : 1 full
Listing Agent

Realty One Group West

Listing Agent's Description

This beautiful desirable tree line street offers this adorable single story home! Located in a great neighborhood with easy access to freeways, shopping and only one mile from Cal Baptist! This beautiful 3 bedroom home has a nice size yard and side storage area, lemon tree and plenty of room to play! The home also features remodeled kitchen with granite, cozy fireplace, Pergo laminate floors, nice open floor-plan, cute little front porch and a big beautiful tree in the front yard!

SEE MORE

MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Inland Empire market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Ramona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $111k484k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Ramona

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800190020002100Rent in $8782101

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Madison Elementary School Primary Regular 718 28 6
Madison Elementary School Middle Regular 718 28 6
Ramona High School High Magnet 2,160 85 4

Madison Elementary School

  • Education Level: Primary
  • # of students: 718
  • # of teachers: 28
6
GreatSchools Rating

Madison Elementary School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 28
6
GreatSchools Rating

Ramona High School

  • Education Level: High
  • # of students: 2,160
  • # of teachers: 85
4
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,475
Property Tax -$387
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$335

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$399,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.72%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,573

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,680

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,7503$1,8504$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3558 Lila Street Riverside, 1
    • 3 beds 1 baths ∙ 1,071 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,071 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.57
    •  
  • 4214 Adams Street Riverside, 2
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.38
    •  
  • 3626 Lillian Street Riverside, 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1958
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.47
    •  
  • 8197 Helena Avenue Riverside, 4
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1956
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.47
    •  
  • 3926 Madrona Road Riverside, 5
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1959
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.45
    •  
PROPERTY LISTING DETAILS
Jennifer Araujo
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20171281
Last Updated: 08/21/2020
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